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One by-product of the Paris terrorist attack on Charlie Hebdo was an outpouring of support for freedom of speech. While there was general agreement that the magazine’s content has been, beyond a doubt, offensive to some (and not only Muslims), almost everyone agreed that freedom of speech is a fundamental right that should be protected, regardless

Contemporary supporters of an expanded role for government are increasingly moving away from calling themselves liberals toward referring to themselves Progressives, so it is worth considering what the ideology of Progressivism entails. Progressivism began in the late 1800s as a political movement that advocated expanding the role of government.

Three months ago, the CEO of Gravity Payments, a Seattle credit card processing firm, announced that all of the firm’s employees would be paid a minimum of $70,000 a year, according to this story . Now, the firm has fallen on hard times, and some of the firm’s “higher valued” employees have quit. One employee who quit said, “He gave raises to

My book, Advanced Introduction to the Austrian School of Economics , is being translated into Korean, and the translator asked me to provide a short preface for the Korean edition.  I’m reproducing it below, partly just to give my book a bit more publicity (it’s affordably priced, if you go with the paperback), partly to indicate how I see how the

The Free Market 31, no. 4 (April 2013)   T he remarkable prosperity that people in capitalist economies enjoy at the beginning of the twenty-first century ranks at the very top of all achievements of human civilization. This prosperity is all the more remarkable when one realizes that the economic progress that has produced it dates back only a

Volume 1, No. 2 (Summer 1998)   What causes economic growth? At the risk of some oversimplification, the answers economists have given to this question can be divided into two broad camps, one following the ideas of Adam Smith (1776) and the other following the ideas of David Ricardo (1821). Smith, whose overriding goal was to understand the

Volume 1, No. 4 (Winter 1998) The Political Economy of Economic Freedom By Alan Peacock Cheltenham, U.K.: Edward Elgar, 1997 In the decades following World War II, when the scope of government was increasing dramatically, Alan Peacock was one of those rare British economists who argued for less government. Because his ideas were outside the

Volume 2, No. 2 (Summer 1999) Frank Shostak and Jörg Guido Hülsmann have written thoughtful comments on my article, “Entrepreneurship and Economic Growth” (1998). In some places, I agree with them but believe clarification is worthwhile, and in other places I find myself in disagreement. Despite the fact that we do not always agree, I appreciate

  Volume 4, No. 3 (Fall 2001)   Garrison’s  Time and Money  picks up where Hayek left off, developing a macroeconomic model based on Austrian capital theory that provides significant insights into macroeconomic phenomena. My title here is slightly misleading: how does one count contributions?  In one sense, Garrisons’s  Time and Money  makes more

  Volume 6,  No. 3 (Fall 2003)   This article describes how theories of entrepreneurship can be completely incorporated into a model of the competitive process to show that entrepreneurship is the engine of economic progress, to show that entrepreneurship is necessary for firms to survive in competitive markets, and to show that product